Bank Of China

Bank of China, a financial intermediation services provider headquartered in CN, reported its 2024 Scope 1 emissions as 77,288,000 kg CO2e, Scope 2 emissions as 1,138,311,000 kg CO2e, and Scope 3 emissions from waste generated in operations as 11,592,000 kg CO2e.

Looking back, in 2023, the bank's Scope 1 emissions were 84,740,000 kg CO2e and Scope 2 emissions were 1,509,353,000 kg CO2e. In 2022, Scope 1 emissions were 74,899,000 kg CO2e and Scope 2 emissions were 1,462,647,000 kg CO2e.

Bank of China has set several climate commitments. It aims for a 40% absolute reduction in Scope 1 and Scope 2 carbon emissions by 2025, using a 2019 baseline. Furthermore, the bank has a long-term goal to reduce its Scope 1 emissions by 50% by 2050 from a 2020 baseline, and similarly, to reduce its Scope 2 emissions by 50% by 2050 from a 2020 baseline. Certain branches, such as BOC London and BOC (UK), plan to achieve operational carbon neutrality within their jurisdictions before 2030, with efforts to help upstream and downstream companies reduce emissions from 2030 to 2050. Bank of China (Hong Kong) Limited (BOCHK) also aims for carbon-neutral operations by 2030. In terms of financing, the Bank will no longer provide financing for new coal mining and coal power projects outside of China from the fourth quarter of 2021 onwards, with the exception of already contracted projects.